Robocash Group is planning to launch its initial public offering (IPO) on the Australian stock market this December.
The parent company of European peer-to-peer lender Robo.cash would follow fellow fintech firm Plenti in listing on the Australian Securities Exchange (ASX).
Sergey Sedov, chief executive of Robocash Group, said the company is going “full speed ahead” with its IPO plans.
“It should happen in December this year,” he told a webinar this week.
“We are going to raise AUS$60m (£32.8m).
“Most will be allocated to developing our existing products and to expand further our new products and into new countries next year.”
The funds will also be used to launch a digital bank in the Philippines.
Sedov told viewers that the platform is returning to pre-pandemic levels in terms of volume and investors and has remained profitable.
“The first half of the year was challenging,” he said.
“We have remained profitable and made more than $10m (£7.5m) in the first half of the year which we hope to double by the end of 2020.”
The company’s annual report shows its profits rose from $11.6m in 2018 to $15.8m last year.
Robo.cash is open to European investors and lends in Russia, Spain, Vietnam the Philippines and Indonesia.